TELETRADER News
3/15, 4:49 PM
(Source: TeleTrader)
Credit Suisse said to seek support from Swiss National Bank
Credit Suisse Group AG has reportedly appealed to the Swiss National Bank for public backing after its shares plummeted to an all-time low after its largest stakeholder conveyed it will not increase the bank's funding, the Financial Times reported on Wednesday.
The sources close to the matter also claim that Credit Suisse reached out to the Swiss regulator Finma with the same request, but neither of the two authorities has replied so far.
The bank yesterday tried to dissuade the public from raising further concerns about its fiscal health by sharing the results of an independent audit confirming its financial statements were in compliance with regulations.